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Originally Posted by full of luv
(Post 1960651)
Maybe it's fleet dependent. In our fleet the landing automatically gets updated in Icrew from ACARS, but you need to go into ICREW to update CAT III currency, as logging an auto land in ACARS doesn't automatically give you cat III currency in ICREW.
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Originally Posted by Jughead135
(Post 1960919)
Not in the sense I think you mean it--the $18K refers to the "elective deferral" limit, i.e., the amount you can "elect" to put in as pre-tax ("defer"). There's no distinction between regular pay vs PS so far as the elective deferral is concerned (and, no difference on your final tax bill, either, though you may see a larger or smaller hit in the specific pay period(s) involved).
The DPSP contribution (15% "company" contribution) will still go in, pre-tax, until the total for the year hits the $53K overall limit. If your goal is to get as much into the account as possible, you can still make 401(a) contributions (after tax), without regard to the elective deferral limit (up to the same $53K limit)--I don't know if it's possible to do so from the PS, though. Just so there's no question about 401k stuff... Delta will put 15% into your account until you reach an income of $265,000, then ALL the Delta money comes to you as regular pay, TAXED! That's $39,750............ You are allowed to contribute up to the max of $53,000 using $18,000 of your own money but IF you max out the Delta $$ you cannot reach the $18,000 limit, UNLESS, you're over 50, when you can contribute an extra $6000 up to $59K.... All totaled, you can't max out the Delta money and the 18k and the 6k because it's too much! (IF you earn >265k) If you don't care about "tax free" money, then put the $18k in from your PS check in February, and the Delta money will stop at $35,000, and you'll pay taxes on the $4,750..... |
Originally Posted by full of luv
(Post 1961081)
Out of England, esp lhr, it's the taxes that will surprise you. Not the zed fees.
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Originally Posted by Piklepausepull
(Post 1961275)
You are allowed to contribute up to the max of $53,000 using $18,000 of your own money but IF you max out the Delta $$ you cannot reach the $18,000 limit, UNLESS, you're over 50, when you can contribute an extra $6000 up to $59K....
All totaled, you can't max out the Delta money and the 18k and the 6k because it's too much! (IF you earn >265k) If you don't care about "tax free" money, then put the $18k in from your PS check in February, and the Delta money will stop at $35,000, and you'll pay taxes on the $4,750..... - Which maxes "first" is what controls whether you're maxing the elective deferral (the $18K) or the company limit (15% of $265K = $39,750). If you make large enough contributions, it'd be easy for a high-earner (>$265K) to contribute $18K before reaching the $265 limit--in which case the full deferral limit has been reached, and the company contributions will stop at the $53K (total) mark, with the excess coming as taxable income. Mostly a moot point, though, since either way the total tax-deferral (and thus total reduction to taxable income) is the same $53K. - The $6K over-50 is independent of the other limits--an over-50 employee can add up to $6K to the total of his and/or the company's contributions without regard to the limits. - Where you can limit your tax advantage (assuming your goal is to max out your $53K limit) is if you make too-large of a 401(a) contribution, thus forcing some of your company contribution to taxable income. This problem doesn't exist for anyone making over $233,333: their $18K deferred + their 15% company ($35K) = $53K, so the question of making a 401(a) contribution doesn't arise. Anyone making less than that $233,333 would need to make a 401(a) contribution to hit the $53K limit--and would therefore need to ensure they don't contribute any more than the difference between the limit and the pre-tax (elective + company). If they do, they forgo the tax deferral. (This last point assumes that tax deferral is the prime goal. Different strategy altogether if one wants, say, to maximize Roth-type savings.) |
Originally Posted by Jughead135
(Post 1961308)
That's apples & oranges.
- Which maxes "first" is what controls whether you're maxing the elective deferral (the $18K) or the company limit (15% of $265K = $39,750). If you make large enough contributions, it'd be easy for a high-earner (>$265K) to contribute $18K before reaching the $265 limit--in which case the full deferral limit has been reached, and the company contributions will stop at the $53K (total) mark, with the excess coming as taxable income. Mostly a moot point, though, since either way the total tax-deferral (and thus total reduction to taxable income) is the same $53K. - The $6K over-50 is independent of the other limits--an over-50 employee can add up to $6K to the total of his and/or the company's contributions without regard to the limits. - Where you can limit your tax advantage (assuming your goal is to max out your $53K limit) is if you make too-large of a 401(a) contribution, thus forcing some of your company contribution to taxable income. This problem doesn't exist for anyone making over $233,333: their $18K deferred + their 15% company ($35K) = $53K, so the question of making a 401(a) contribution doesn't arise. Anyone making less than that $233,333 would need to make a 401(a) contribution to hit the $53K limit--and would therefore need to ensure they don't contribute any more than the difference between the limit and the pre-tax (elective + company). If they do, they forgo the tax deferral. (This last point assumes that tax deferral is the prime goal. Different strategy altogether if one wants, say, to maximize Roth-type savings.) |
Originally Posted by 4fans
(Post 1961321)
Man I would love to have these kinds of problems.
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As my 14yo daughter says: "these are 1st world problems Daddio".
I hit the 265K limit last month, because I was only putting 1% in 401k and 2% in catch-up... Knew about the 53k, 18k, and 6k limits but not the 265k limit... thought Delta was going to fill me up to the 53k limit. Luckily, I noticed the 401k contributions stopped and was able to change my contributions to 14% for the remainder of the year... which will be a wash when one figures in the 15% cash contribution by Delta. Could they make this stuff any more convoluted? Maybe I missed it, but it would be nice if DALPA put something out at the end of each year to help us non-finance guys set this up. |
Looking for advice on best way to maximize payback days.
I'm on the ER. Can I pick up, then drop, an international type trip (something with a lot of block in the first duty period) on the last day of the bid period and drop the trip (assuming adequate staffing on that date) before the next month's schedule is published? Would that use just 1 payback day or will they put additional ones at the beginning of the next month in PBS? I just want to get the max hours out of my 2 payback days. Thanks. |
Originally Posted by MoonShot
(Post 1961471)
Looking for advice on best way to maximize payback days.
I'm on the ER. Can I pick up, then drop, an international type trip (something with a lot of block in the first duty period) on the last day of the bid period and drop the trip (assuming adequate staffing on that date) before the next month's schedule is published? Would that use just 1 payback day or will they put additional ones at the beginning of the next month in PBS? I just want to get the max hours out of my 2 payback days. Thanks. Also I'd like to add an addition to rhinos and others discussion of green slipping on off days. If you get a GS, and it isn't on an x or golden, you can request to move an x day to the first day of the trip. With scheduling concurrence...This will give you an extra payback day. So let's say that worked. Now remember to move x days, you need reserve coverage and 3 days in advance. So, you've got day 1 on an x day and you should have time to get x days moved under days 3 thru whatever. Which, if successful, will give you payback days at the end of your trip. |
Originally Posted by Jughead135
(Post 1961308)
That's apples & oranges.
- Which maxes "first" is what controls whether you're maxing the elective deferral (the $18K) or the company limit (15% of $265K = $39,750). If you make large enough contributions, it'd be easy for a high-earner (>$265K) to contribute $18K before reaching the $265 limit--in which case the full deferral limit has been reached, and the company contributions will stop at the $53K (total) mark, with the excess coming as taxable income. Mostly a moot point, though, since either way the total tax-deferral (and thus total reduction to taxable income) is the same $53K. - The $6K over-50 is independent of the other limits--an over-50 employee can add up to $6K to the total of his and/or the company's contributions without regard to the limits. - Where you can limit your tax advantage (assuming your goal is to max out your $53K limit) is if you make too-large of a 401(a) contribution, thus forcing some of your company contribution to taxable income. This problem doesn't exist for anyone making over $233,333: their $18K deferred + their 15% company ($35K) = $53K, so the question of making a 401(a) contribution doesn't arise. Anyone making less than that $233,333 would need to make a 401(a) contribution to hit the $53K limit--and would therefore need to ensure they don't contribute any more than the difference between the limit and the pre-tax (elective + company). If they do, they forgo the tax deferral. (This last point assumes that tax deferral is the prime goal. Different strategy altogether if one wants, say, to maximize Roth-type savings.) |
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